What is a cluster?
what is a cluster
A cluster is a geographic group of interconnected companies and institutions in a particular field. They can range from small clusters of under 10 companies, to clusters that contain thousands of companies. Clusters include an array of industries that are somehow linked and other entities also. Clusters may include SMEs, large global firms, academia institutes, government and research firms.
Ifor Ffowcs-Williams of Cluster Navigators worked with our cluster in 2020. Ifor is a global practitioner in cluster-based economic development, he shared "Today's economy is about speed, flexibility and connectivity in an environment where innovation and economic growth are geographically concentrated. Clusters and their smart specialisations are cornerstones of this reality........"
Ireland South East Financial Services Cluster kicked off its ignition phase in February 2020. Arising from the Regional Economic Development Plan, directed by Ireland South East Development Office, supported, and funded by the five local authorities of Wexford, Waterford, Carlow, Kilkenny, and Tipperary.
what our members say
Cluster Champion Terry Clune, founder and CEO of the Clune Tech (formerly Taxback Group), states, “The idea of a cluster is complementary and benefits everybody in the cluster. The more companies that are around – it gives more opportunity for staff to learn new things and it gives more commitment to people to join the area as there are more opportunities. That benefits all the businesses involved in a cluster environment. Overall, the cluster focus and approach are good for businesses in the region, strengthening the region and I am delighted to be involved.”
Cathal Smyth, Chief Administration Officer with State Street, a participating cluster member, said “State Street are delighted to participate in the Ireland South East Financial Services Cluster collaboration. This region is cost effective and talent rich”.
Cluster manager - Catriona Murphy welcomes engagement from all financial services companies in the region to contribute to this new and growing cluster, “We aim to bond the financial service community to engage with peers, bounce ideas, look for tips and hints, get and give mentorship and tap the enormous development power where firms that compete and cooperate at the same time, building knowledge bridges across traditional boundaries in order to compete internationally. Our goal is to bridge our community internationally – capturing the growth potential for all.”